TMDb/Comics Unleashed TV CBS cancels The Late Show with Stephen Colbert in 2025, ending a ratings-leading era. The final episode airs May 2026. April 7, 2026 AceShowbiz - The Late Show with Stephen Colbert has been a staple of CBS late-night television since 2015 when Stephen Colbert took over from David Letterman. However, in a surprising move, CBS announced the cancellation of The Late Show with Stephen Colbert in July 2025, despite the program's strong ratings and critical acclaim over the past decade.